The 3,901 sqm site sits directly opposite Hyde Park and serves as a primary eastern entry point into the city centre. Its location, bordered by Park, Castlereagh, Elizabeth and Bathurst Streets, gives it strategic visibility and walkable access to Town Hall, Museum and St James stations.  

The redevelopment replaces a 1978 Kann Finch-designed office tower, which Charter Hall acquired for $630 million in 2019 alongside Abacus and QuadReal. At the time, the building was only 47% leased and nearing the end of its economic life. Chater Hall initially pursued an $85 million podium extension, but later pivoted to a full-scale redevelopment.  

The new tower, designed by FJC Studio, is articulated into three vertical elements, creating the impression of multiple towers in one. This approach was selected through the City of Sydney’s design excellence process, with the winning scheme beating out entries from Zaha Hadid Architects, SJB and 3XN.  

With this approval, Charter Hall’s Elizabeth Street tower is positioned to become a new centrepiece in Sydney’s luxury hotel and residential pipeline, and a high-profile example of turning a tired commercial relic into a next-generation mixed-use anchor in the CBD’s evolving east.